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Who Needs Financial Planning

Everyone. Allow me to explain. Everyone has various financial and personal goals they would like to achieve. Whether you have a written plan (or simply a vision in your mind), it does not change the fact you have unique goals and dreams. If you are  …read more »

Roth IRA

A Roth individual retirement account (IRA) is a personal savings plan that offers certain tax benefits to encourage retirement savings. Contributions to a Roth IRA are never tax deductible on your federal income tax return, which means that you can contribute only after-tax dollars. But  …read more »

Financial Planning for New Parents

Estate planning is a subject many parents would like to avoid. After all, you’re celebrating new life, and it’s sad to think that you may not be around to raise your child. However, it’s crucial to the welfare of your child that you leave behind  …read more »

Importance of a Financial Plan

Financial planning takes into account your risk profile, needs, concerns, and desires about money and your future.  Based on your needs and goals, a custom tailored financial plan can improve your financial outlook.  As a minimum, it provides a snapshot of your financial situation. Important  …read more »

Borrowing from Your 401k Plan

Employees are usually unaware but many 401k plans allow borrowing from your 401k account balance.  Of course, the primary purpose of a 401k is to fund your retirement but on occasion it may make sense to borrow money from the plan. Basics of Borrowing from  …read more »

Choosing and Evaluating Financial Professionals

Although you may personally handle many of your financial affairs, sometimes you may need the services of a financial professional. Financial professionals include financial planners, attorneys, securities brokers, and other specialists. Selecting the right financial professional means evaluating the services they can offer and their  …read more »

403(b) Plans, Contribution Limits and Rollover Options

A 403(b) plan is an employer-sponsored retirement plan for certain employees of public schools, tax-exempt (501(c)(3)) organizations, and churches. The employer can purchase annuity contracts for eligible employees, or establish custodial accounts to be invested in mutual funds or other investments. In the case of  …read more »

A Good Time to Consult a Financial Planner

In many cases, a specific life event or a perceived need may prompt you to seek professional financial planning guidance. Such events or needs might include: Getting married or divorced Having a baby or adopting a child Paying for your child’s college education Buying or selling a  …read more »

Some Misconceptions About Financial Advisors

Maybe you have reservations about consulting a financial advisor because you’re uncertain about what to expect. Here are some common misconceptions about financial advisors, and the truth behind them: Most people don’t need financial advisors — While it’s true that you may have the knowledge and ability to manage your  …read more »

Working with a Financial Advisor

Even if you feel competent enough to develop a plan of your own, a financial advisor can act as a sounding board for your ideas and help you focus on your goals, using his or her broad knowledge of areas such as estate planning and investments. Specifically,  …read more »